Metropolitan Bank Holding Corp. (MCB): history, ownership, mission, how it works & makes money (2024)

A Brief History of Metropolitan Bank Holding Corp. (MCB)

Metropolitan Bank Holding Corp. (MCB) is a financial holding company that operates through its subsidiary, Metropolitan Commercial Bank. The company was founded in 1999 and is headquartered in New York City.

1999: Metropolitan Bank Holding Corp. was established as a holding company for Metropolitan Commercial Bank.

2003: The bank opened its first branch in Great Neck, New York, marking the beginning of its expansion into the Long Island market.

2010: Metropolitan Commercial Bank acquired Bay Ridge Federal Savings Bank, further expanding its presence in New York City.

2014: The company completed its initial public offering (IPO) and began trading on the New York Stock Exchange under the ticker symbol MCB.

2018: Metropolitan Commercial Bank launched its digital banking platform, providing customers with online and mobile banking services.

2020: Despite the challenges posed by the COVID-19 pandemic, Metropolitan Bank Holding Corp. continued to grow its customer base and expand its market reach.

Today, Metropolitan Bank Holding Corp. remains a trusted provider of banking services to individuals and businesses in the New York metropolitan area and beyond.

Who Owns Metropolitan Bank Holding Corp. (MCB)

Metropolitan Bank Holding Corp. (MCB) is a banking company based in New York. As of the latest available information, the company is primarily owned by institutional investors and mutual funds. The largest shareholders of MCB include:

• BlackRock: BlackRock, Inc. is one of the largest investment management firms in the world and holds a significant stake in Metropolitan Bank Holding Corp.
• Vanguard Group: Vanguard Group is another major institutional investor that owns a substantial portion of MCB's shares.
• Wasatch Advisors: Wasatch Advisors, a respected investment management firm, is also a significant shareholder in Metropolitan Bank Holding Corp.
• Dimensional Fund Advisors: Dimensional Fund Advisors is known for its quantitative investing approach and holds a notable position in MCB.

While these institutional investors play a crucial role in the ownership structure of Metropolitan Bank Holding Corp., there are also individual investors and other entities that own shares in the company. The ownership of MCB is subject to change based on buying and selling activities in the stock market.

Metropolitan Bank Holding Corp. (MCB) Mission Statement

At Metropolitan Bank Holding Corp. (MCB), our mission is to provide innovative financial solutions that empower our customers to achieve their financial goals and secure their future.

Our commitment to excellence drives us to constantly improve and adapt to the changing needs of our customers, ensuring that we are always one step ahead in the financial industry.

By fostering a culture of collaboration and trust within our organization, we strive to build lasting relationships with our customers, partners, and communities.

• Delivering exceptional customer service: We are dedicated to providing personalized and responsive service to meet the unique needs of each customer.
• Embracing innovation: We are constantly exploring new technologies and strategies to enhance the customer experience and improve our services.
• Supporting our communities: We are committed to giving back to the communities we serve through charitable initiatives and volunteer efforts.

How Metropolitan Bank Holding Corp. (MCB) Works

Metropolitan Bank Holding Corp. (MCB) is a banking company that operates through its subsidiary, Metropolitan Commercial Bank. The company offers a range of financial services to businesses, entrepreneurs, and individuals in the New York metropolitan area.

Metropolitan Commercial Bank provides a variety of banking products and services, including commercial lending, deposit products, cash management services, and online banking. The bank focuses on serving small and mid-sized businesses, as well as high net worth individuals.

• Commercial Lending: MCB offers commercial real estate loans, commercial and industrial loans, and commercial lines of credit to businesses looking to finance their growth and operations.
• Deposit Products: The bank provides a range of deposit products, including checking accounts, savings accounts, money market accounts, and certificates of deposit.
• Cash Management Services: MCB offers cash management services to help businesses optimize their cash flow, manage payments and receivables, and streamline their financial operations.
• Online Banking: The bank provides online banking services that allow customers to manage their accounts, pay bills, transfer funds, and access account information securely and conveniently.

Metropolitan Bank Holding Corp. operates with a focus on building relationships with its customers and providing personalized service to meet their financial needs. The company aims to be a trusted partner for businesses and individuals seeking reliable banking solutions in the New York metropolitan area.

How Metropolitan Bank Holding Corp. (MCB) Makes Money

Metropolitan Bank Holding Corp. (MCB) is a financial institution that generates revenue through a variety of channels. Below are some of the key ways that MCB makes money:

• Interest income: One of the primary ways that MCB generates revenue is through interest income. This includes the interest earned on loans, mortgages, and other financial products that the bank offers to its customers.
• Fee-based services: MCB also makes money through various fee-based services, such as account maintenance fees, ATM fees, wire transfer fees, and overdraft fees. These fees provide an additional source of revenue for the bank.
• Investment income: Another way that MCB generates revenue is through investment income. The bank may invest in securities, bonds, and other financial instruments to earn a return on its funds.
• Merchant services: MCB provides merchant services to businesses, allowing them to accept credit and debit card payments. The bank earns a fee for processing these transactions, which contributes to its overall revenue.
• Asset management: MCB also offers asset management services to individuals and institutions, helping them to grow and protect their wealth. The fees earned from these services contribute to the bank's bottom line.